Deal signed to drive funding for AI startups, research in UAE

Deal signed to drive funding for AI startups, research in UAE

Local News, Uncategorized















ABU DHABI / WAM

Abu Dhabi’s Mohamed bin Zayed University of Artificial Intelligence (MBZUAI) and OurCrowd Arabia, the Abu Dhabi based subsidiary of Israel’s OurCrowd, announced the signing of a memorandum of understanding (MoU) to jointly create and manage several initiatives aiming to accelerate and catalyse the growth of the AI technology ecosystem on the university’s campus in Masdar City, Abu Dhabi.

The MoU outlines several initiatives, which include establishing an AI-focussed venture capital investment fund to attract local and global AI technology firms to scale up globally from Abu Dhabi, fostering a strategic collaboration between MBZUAI and Integrated Data Intelligence (IDI) Limited (OurCrowd’s AI subsidiary in Abu Dhabi) for research projects in applied AI technologies across various industries, boosting Abu Dhabi’s AI innovation ecosystem by forming strategic partnerships with government and government-related entities, and providing job and internship opportunities to MBZUAI graduates via OurCrowd’s wide global network of technology startup companies and industry partners.

Sultan Al Hajji, MBZUAI’s Vice President of Public Affairs and Alumni Relations, said, “Part of MBZUAI’s existence is to foster entrepreneurship and this partnership creates a mechanism for incubating startups and